Smart Transportation Market 2019 is Projected to Exhibit a CAGR of 18.68% during the Forecast period 2023 Includes business research, Key players, Revenue Size & Share, Complete Industry Analysis
Worldwide Latest Market Research Report on “Global Smart Transportation Market – Segmented By Application, Product Type, and Region – Growth, Trends, and Forecast (2019 – 2023) 2019-2023”
The Global Smart Transportation market with CAGR of 18.68% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Smart Transportation by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Cisco Systems Inc.
- AGT International
- IBM Corporation
- Logica (CMG)
- Oracle Corporation
- Hitachi Inc.
- Schneider Inc.
- SAP SE
- Siemens Corporation
- Orange Inc
- GSM Association
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Overview of Smart Transportation Market:
The smart transportation market was valued at USD 67.15 billion in 2017 and is expected to reach a market value of USD 189.28 billion by 2023, registering a CAGR of 18.68% during the forecast period (2019 – 2023). The ever increasing population of the world is leading to rapid urbanization leading to many problems, such as congestion and safety issues on the road. The need for sustainable solutions to counter these problems is gaining importance across the world. The emergence of cloud-based technologies and advances in Vehicle-to-Vehicle (V2V) and Vehicle-to-Grid infrastructure (V2I) are making smart transportation a reality.
The report is segmented into advanced traveler information systems, advanced transportation management systems (ATMS), advanced transportation pricing systems (ATPS), and advanced public transportation systems (APTS) on the basis of product types. The report is also segmented by application and region.
Rise in Urbanization, Megacities, and Population is the Major Market Driver
More than half the world’s urban population resides in Asia where some countries, like India and China, already have about a billion people living in the cities alone. The other regions with relatively high urban population are North America, Europe, and Africa. The growing urbanization is an indication of the rising complexities in the cities across the globe with transportation requirements being one of those issues. Resolving these complexities is one of the major challenges faced by the transportation market across these regions.
Technological innovations have brought about a major change in the way everything operates. The Internet of Things has made developing connected networks feasible in almost all major functioning sectors today. Integration of this transportation system has resolved most of the transportation-related complexities. The rising growth rate of megacities worldwide and multiple innovations taking place in the field of technology are expected to open up a number of opportunities in the smart transportation market.
Advanced Transportation Management Systems Expected To Hold Significant Market Share
The exponentially growing trend of connected cars devices and connected devices in other vehicles as well is driving the market on a large scale. Moreover, a rise of connected cars which are equipped with mechatronics, telematics, artificial intelligence, and other IoT features, which help to interact with various smart devices and vehicles, might boost the market of various integrated technological systems in the transportation sector. These connected features involve the exchange of real-time data that offers better comfort, security, entertainment, and safety for the end-user. Various automobile manufacturers, such as BMW, Mercedes, Ford, General Motors and others, are now offering IoT to ease the complexities in the transportation sector.
Europe Expected to Remain Market Leader
It is expected that approximately 233 million connected cars would be on the road by 2020, globally, and Europe is holds the majority of the percentage in the production of connected cars during the forecast period. The connected cars market is expected to increase by four times in 2020 compared to the current market state. These connected technologies in the automotive sector might boost the smart solutions market in the transportation sector.
Moreover, urban transportation is becoming an important pillar for a better quality of life of citizens in a city. Currently, in most of the cities in Europe, private and public road transportations are the vital mode of commuting. However, the lack of safety and the quality of the public transportation as well as the poor traffic management in overcrowded road network, the rise of theft, increase in parking issues, etc., are boosting the market for smart highways which, in turn, is boosting the smart transportation market
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Reasons to Purchase This Report
The Global demand for Smart Transportation Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Smart Transportation Market highlights the following key factors:
- A complete informative analysis of Smart Transportation industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Smart Transportation Market shares and methods of key players in the Smart Transportation market.
- Current and predictable size of Smart Transportation market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Smart Transportation market.
Smart Transportation Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Smart Transportation Market players in detail. Smart Transportation Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Key Features of the Smart Transportation Market Report:
- Smart Transportation Market insights and finger analysis will help take knowledgeable decision in the changing competitive dynamics.
- To build up a far-reaching, verifiable, every year refreshed and financially perceptive data dependent on execution, capacities, objectives, and systems of the world is driving organizations.
- To help current providers reasonably evaluate their money related, advertising and innovative capacities opposite driving contenders.
- To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
- Development opportunities and forecast buyer requests will evoke the collection of revenue.
- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Smart Transportation Market of many Smart Transportation Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Smart Transportation Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Smart Transportation Market competitors.
Mr. Ajay More
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